February 15, 2008 in Business

NightHawk posts higher revenues

The Spokesman-Review

Coeur d’Alene-based NightHawk Radiology Holdings Inc. posted revenues of $42.7 million for the fourth quarter last year, up 77 percent over the same period a year prior.

Yearlong revenues also grew 65 percent over 2006, to $151.7 million, the company announced Wednesday. Net income was $14.7 million, or 47 cents per diluted share, compared to a loss of $28.4 million, or $1 per share, in 2006.

NightHawk completed acquiring three companies, increasing its market share and allowing it to offer new services, which accounted for 15 percent of 2007 revenue. At year’s end, Nighthawk served almost 1,500 sites, representing roughly 26 percent of U.S. hospitals.

NightHawk also announced President and Chief Operating Officer Tim Mayleben and Chief Financial Officer Glenn Cole are leaving the company for personal reasons.

The company projects 2008 revenues of $195 million to $205 million.

United Airlines and Continental are in advanced negotiations and could complete a merger quickly if Delta and Northwest strike a deal, according to a person familiar with the negotiations.

However, there are still significant issues yet to resolve, according to the person, who was not authorized by the companies to talk about the deal.

United spokeswoman Jean Medina and Continental Airlines Inc. spokesman Dave Messing declined to comment.

Delta Air Lines Inc. and Northwest Airlines Corp. have been intently discussing a deal for several weeks, according to people familiar with the situation.

The prospects for a deal seemed to improve Thursday, when Air France-KLM, said it was considering investing in a Delta-Northwest combination.

United, owned by UAL Corp., and Continental must wait for the Delta-Northwest talks to run their course because Northwest can block any deal involving Continental. That veto power is the vestige of Northwest’s onetime stake in Continental.

Goodyear Tire & Rubber Co. said Thursday that it swung to a profit in the fourth quarter, earning $52 million on strong U.S. and international sales.

The world’s third biggest tire maker earned 23 cents a share for the quarter ended Dec. 31 compared with a loss of $358 million, or $2.02 per share, in the year-ago quarter when results were brought down by a Steelworkers strike at North American factories.

Discounting charges totaling 26 cents per share and a tax-related gain of 4 cents per share, earnings from continuing operations were 49 cents per share for the quarter.

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